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An ultra-rare 1962 Ferrari 250 GTO sold for $48.4 million (£37.7 million - including fees) in the RM Sotheby’s Monterey sale on 25th August, breaking the world record for the most expensive car ever auctioned. Three telephone bidders competed for the car, considered the 'holy grail' for serious collectors, before the hammer came down at $44 million.

A remarkable fact about the Ferrari 250 GTO is not just its rarity, but the fact that it isn’t rarer still. When you build cars, particularly fast cars, you expect a few to get lost, crashed or cremated along the way. Between 1962 and 1964, just 36 examples of this ultimate racing Ferrari were built, and every single one of them survives until this...